One thing I've don since NCAA 09 is to buy the Madden game as well. THis adds an awesome dimension to the dynasty! Not only am I trying to kick tail and takes names in NCAA, but I also have a goal of getting players into the NFL draft in Madden. (If you didnt know, you can save draft classes from NCAA and import them into your franchise mode in madden. Then have a chance to draft your dynasty players if they make it into the draft). Like any coach, I take it as a huge ego boost when I have players get selected in the first couple of rounds. So far I have yet to have someone be the #1 pick but im working on it!
Its also cool to recruit a player and then see him go to the NFL and check his stats to see how hes doing. Kinda like a parent seeing their kid grow up lol. Other things I do is like some of the other guys mentioned, really focus on establishing and maintaining my team identity and foundation. Being consisent with recruiting and discpline etc. Just a few ideas for ya ...but I HIGHLY recommend the Madden thing! Its a blast!